Greek historian Herodotus once said, “Great deeds are usually wrought at great risk.” The great company you are building will not come easy. It may require you to go “all in” (and take a prudent risk) to make it work. But what does that mean and when do you undertake such a risky action?

Like a master chef preparing a sumptuous feast, every entrepreneur needs to know the right “ingredients” to make his or her business turn out just right.  Here are the 8 ingredients for a business secret sauce:

You can be a successful entrepreneur. You’ve just graduated and are ready to put all of that knowledge and energy to use. Admittedly, a great deal of your practical knowledge was picked up outside the classroom – like the time you broke into the Dean’s office with.. how long ago was that? Nevermind, the statute of limitations hasn’t passed.

Starting a scalable company is a daunting task. This will challenge even the most experienced management team. The team’s success requires a complete understanding of the issues and risks it faces in its quest to succeed.

Launching a startup is no easy feat. You will face challenges, your team will encounter stressful situations, and you might begin to question if your startup can succeed. Understanding these startup risks from the beginning will increase your company’s chances of success.

Every company is composed of individuals with different skill sets and has different roles that must be filled in order to succeed.

There are many motives to start a business. In a market system at its simplest form, the purpose of a business is to make money. However, you must never forget your “raison d’être,” your company’s real reason for being.

A fair number of really smart, well-prepared entrepreneurs get tripped up, stumble around and eventually fall to the ground when they make their startup funding pitches to the Angel Investment Group that I am a part of.

How do we get there? Remember that your organization’s vision is the destination.

One way for entrepreneurs to mitigate startup risks is through insurance. Here are 8 types of insurance that entrepreneurs should consider as they develop and grow their startup.